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Commodities

India Sells Up to 6% of Hindustan Copper Stake at Discount

Guavy AI Editorial Team
Instruments
Copper
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The Indian government has announced plans to sell up to 6% of its stake in Hindustan Copper through an Offer for Sale (OFS), with a floor price of ₹514 per share. This represents a 10.45% discount to the company's closing price on Monday, which was ₹574.

The OFS is valued at around ₹3,000 crore based on the floor price. The government has stated that it will offer 3% equity in Hindustan Copper through the OFS, with an option to divest an additional 3% if oversubscribed. This comes after a strong rally in August, which saw the stock surge by 17% due to increased global copper prices and supply concerns.

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